The Ministry of Finance proposes the abolition of real estate acquisition tax UPDATE03
At its meeting on April 30, 2020, the government approved the abolition of the 4% real estate acquisition tax and related changes in the Income Tax Act. The content of the proposal of the Ministry of Finance is described below. However, there are likely to be some adjustments to this wording as a result of the coalition agreement. According to the media, the change should concern the maintenance of the tax deduction of interest on real estate acquired until the end of 2021. The time test for the exemption of income from the sale of real estate should be extended to 10 years (compared to the originally proposed 15 years).
The Ministry of Finance proposes the abolition of real estate acquisition tax UPDATE02
At its meeting on April 30, 2020, the government approved a proposal by the Ministry of Finance to abolish the 4% tax on the acquisition of real estate. Compared to the original wording, certain adjustments have been made in order to reach a coalition agreement.
The Ministry of Finance proposes abolishing the real estate acquisition tax
The Ministry of Finance proposes the abolition of a 4% real estate acquisition tax. The proposal will be discussed on Friday 17 April by the Coalition Council of the Government and the National Economic Council of the Government (NECG).
Tax relief will be extended. Ministry of Finance has prepared a second liberalization package
In addition to the already approved liberalization package, which we have already reported in detail in recent days, the Ministry of Finance has prepared further measures to help taxpayers bridge the emergency caused by the current situation caused by the spread of coronavirus. What is the content of the second liberalization package?